"In aid of veterans tax exemptions, subject to the
conditions prescribed in ORS 307.370 to 307.385 and
308.490, there shall be exempt from taxation the personal
property and a portion of the real property computed as
provided in ORS 307.380, owned or being purchased under
a contract by a corporation described in ORS 307.375
which is actually and exclusively occupied and used in
the operation of a nonprofit home for elderly persons."
ORS 307.370(1).

The text of the statute is clear and unambiguous. It
exempts personal property of the qualifying nonprofit corporation
that is actually and exclusively occupied and used in the
operation of a nonprofit home for elderly persons. To obtain the
exemption, the corporation must file an application with the
county assessor. ORS 307.380. There is no limitation upon the
value, kind, or location of the tangible personal property.

4,5. The exemption for personal property is to be contrasted
with the limited exemption provided for real property. The
statute exempts only a "portion of the real property." That
portion is to be "computed as provided in ORS 307.380." Inasmuch
as the modifier "portion" only refers to real property, only real
property is subject to the calculations under ORS 307.380. Thus,
it is clear from the context of ORS 307.380(2) that only those
elderly residents who qualify for veterans exemptions under ORS
307.250 to 307.300 may apply for the partial real property tax
exemption provided by ORS 307.370. Administratively, the
nonprofit corporation must assist the elderly person in preparing
the application forms submitted to the assessor. The statute
provides: "The total of such exempt amounts in each facility,
together with the exemption on personal property, shall
constitute the exemption allowed the corporation."

ORS 307.380(2)(c). This language indicates that the partial
exemption for real property is limited to elderly residents who
qualify for veterans exemptions. The personal property tax
exemption is not limited or so conditioned.

The county emphasizes that ORS 307.370(1) begins with
the phrase "[i]n aid of veterans tax exemptions." It contends
that this phrase limits all of the exemptions provided by that
section.

6. The county claims too much for this phrase. The
statute is in "aid of veterans tax exemptions" because it
provides a partial real property tax exemption that directly
benefits elderly residents who qualify for veterans benefits.
Absent ORS 307.370, such elderly residents would not receive any
benefit under ORS 307.250. The personal property tax exemption
is granted without regard to veterans benefits. Accordingly, it
is broader than the "personal use" exemption of ORS 307.190 and
more extensive than the veterans property tax exemption.

The text of the statute is consistent with its context.
To obtain the exemption granted by ORS 307.370(1), the qualifying
nonprofit corporation must file for exemption under ORS
307.380(1). The total of the claims for exemptions submitted by
the elderly residents who qualify for veterans exemptions plus
"the" exemption on personal property constitutes the total
exemption allowed the corporation. ORS 307.385 also requires the
corporation to credit the account of each resident whose living
unit was taken into account in determining the real property tax
exemption. No such requirement exists for the personal property
tax exemption.

In summary, both the text and context of ORS 307.370(1)
indicate that the personal property tax exemption granted to
qualifying nonprofit homes for the elderly are not related to or
limited by veterans exemptions, provisions or conditions.

Accordingly, the department's Opinion and Order finding in the
taxpayer's favor must be sustained. Now, therefore,

IT IS ORDERED that Plaintiff's Motion for Summary
Judgment is denied, and

IT IS FURTHER ORDERED that Intervenor's Cross Motion
for Summary Judgment is granted. Costs to neither party.

1. All references to the Oregon Revised Statutes are to the
1995 Replacement Parts.